PhD CEOs and firm performance
Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
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- Euro Fin Management - 2021 - Urquhart - PhD CEOs and firm performance
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Dangosydd eitem ddigidol (DOI)
This paper investigates the relationship between the education of a Chief Executive Officer (CEO) and firm performance and provides robust evidence that firms led by CEOs with PhDs outperform their peers. We find that CEOs with PhDs increase firm performance by 3.03% while CEOs with a PhD from a highly ranked university increase firm performance by 4.65%. Our results are robust to endogenous CEO selection, transition firms, alternative rankings, unobserved firm characteristics and the network of the CEO. We also show that the increase in firm performance is due to a tighter control of costs and superior cash flow management.
| Iaith wreiddiol | Saesneg |
|---|---|
| Cyfnodolyn | European Financial Management |
| Dynodwyr Gwrthrych Digidol (DOIs) | |
| Statws | Cyhoeddwyd - 2022 |
| Cyhoeddwyd yn allanol | Ie |